Former U.S. Treasury Secretary Lawrence Summers has issued a warning that the United States is likely heading towards a recession. According to his analysis, the economic downturn could result in as many as 2 million jobless claims. Summers pointed out that current economic indicators, including inflation rates and potential interest rate hikes, are creating an environment where a recession becomes increasingly probable. He urged policymakers to prepare for the worst while hoping for the best.
— new from Fortune
